Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Sept. Factory Orders Plunge

The Commerce Department just reported that U.S. factory orders were down 2.5 percent in September compared with September 2007, a deeper-than-expected drop.

That means "smokestack America," as CNBC's Rick Santelli referred to it, is contracting like most other U.S. businesses. This means factories are not buying steel, office supplies and so forth.

Analysts expected the September drop would be 0.7 percent. It's the second straight monthly drop for factory orders, which were down 4.3 percent in August, compared with August 2007.

-- Frank Ahrens

By Frank Ahrens  |  November 4, 2008; 10:11 AM ET
Categories:  The Ticker  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: Markets Rally at Opening
Next: Today's Rare Wall Street Rally

No comments have been posted to this entry.

The comments to this entry are closed.

RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company